o Liberal Left Thinks privatization requires higher taxes and more regulations

O liberal left thinks privatization requires higher

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o Liberal Left- Thinks privatization requires higher taxes and more regulations o Conservative Right- Thinks privatization is the best thing ever Why would a government nationalize an industry? o 1. In times of way/emergency (steel, food during WW2) o 2. Social good far outweighs the cost (Post Office, doesn’t make money but is good for the people) o 3. Save a flailing business Many companies in the Middle East nationalize their oil industries o Used the trillions of dollars made to give their citizens education and healthcare etc. Russia also nationalized their oil industry until the Soviet Union fell in 1990 and they could no longer afford it o Vladimir Putin nationalized the oil industry again in 2000 and made trillions Privatization has been all the rage for decades due to shifting economic systems o Communist Russia fell and sold all its assets to become a capitalist economy o Communist China has been shifting to a capitalist economy too in the past 30 years o Socialist India sold off things transportation and telecommunication o The bloated bureaucracy cannot manage certain industries as well as the private sector can, so the government sells it and then taxes o Also, big corporations have become REALLY big and they can lobby governments really hard to privatize industries because they are big fat meanie bullies o Nigeria is corrupt so its oil industry is controlled by the private sector Nationalization is back on the rise!!! o 2008 recession even has Georgie Bush nationalizing financial firms o Barack Obama nationalized car manufacturers, banks, financial firms o Venezuela’s President has triggered a revolution across Latin America o Places with high poverty rates see nationalization as the only way to level the playing field in regards to Western countries like America because we have our shit together sorta and corporations
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  • Fall '08
  • Capitalism, Privatization, Nationalization, Public ownership, oil industry

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